- Jun 9, 2012
Well... that was all very illuminating... not.
While I'm not sure what Lewis' current business dealings include, having an ever appreciating asset is far better for most in his wealth bracket. He probably doesn't need the liquidity of a cash sale.I’m struggling to imagine the stadium opening pulled at old Joe’s heartstrings. More that he sees the club as being more profitable longer term than the just having the lump sum now. Main thing I take away from that is that there can be no excuses now for lacklustre squad investment. Got the training ground, the stadium, record profits and self sufficiency so we dont need to rely on our owners personal wealth like other clubs. Let’s bring in some talent to match all that good work now.
I have never understood this ‘being the richest person in the graveyard’ outlook on life...that’s why apart from my ‘castle’ I have nothing..ish but then my nearest and dearest are not wanting either..if you can’t enjoy while you’re here then what’s the point..It's important to understand how Joe Lewis works. He looks for capital gains not income from his investments. Look at his art investments. He buys paintings that he likes and thinks will rise in value, enjoys them while he owns them and sells them when he thinks their value has peaked - last year he sold his “Portrait of an Artist (Pool with Two Figures)” by David Hockney for $90.3m which is the highest price ever realised for a painting by a living artist. He bought Spurs for something under £100m, enjoys owning it and perhaps one day will sell it.
An owner who is after capital gains is very much better than one like Kroneke or the Glazers who are both looking to talk funds out of Arsenal and Man Utd in the form of consultancy fees, interest and dividends. I don't think Spurs have paid a dividend since ENIC has had full control and Joe Lewis has never taken a penny from the club. (Levy is paid but at a rate comparable to other football CEOs.) As an owner interested in capital gains Lewis has also been willing to invest heavily in capital assets - the new stadium and training ground.)
So will he sell? Probably eventually but please note that his daughter Vivianne Silverton is his business heir and her partner is Craig Johnston, the former footballer.
On reflection, one would hope hope one’s soft butter would harden, wouldn’t you?Because i haven't heard the expression before.
Have you had butter that you were going to use and now it's melted? You might have wanted to use it.
Or is it a metaphor for something more sexual? Did you have hard butter that is now soft?